The major indexes remain range bound today, selling off after a higher open to trade slightly in the red at midday. The Dow and S&P 500 remain capped by their 50-day moving averages. BA is the drag on the Dow today. 

Real estate is the worst performing sector, off 2.4%, followed by utilities which are off 1%. Healthcare and telecom lead the way higher. NYSE decliners (69%) double the pace of advancers (31%) with the volume picture slightly more encouraging at 41% up vs 57% down. All in all, it is more of the same sideways action. 

The greenback is trading flat to lower against a basket of currencies.  Bond yields on U.S. Treasuries are on the rise, as the benchmark 10-yr note traded around 1.86%, the highest yield in 5 months, while the 2-yr traded at .89%. The United Kingdom 10-yr Gilt rose to 1.274%, 12 basis points, on better than anticipated UK GDP data.  

More data out of the Fed to digest.  Initial claims dropped to 3,000 to 258,000 from the revised 261,000.  The 4-week moving average, a better gauge, increased 1,000 to 253,000 from the previous week’s revised 252,000. The advance seasonally adjusted insured unemployment rate was 1.5 percent or 2,039,000 a decrease of 15,000 and the lowest level for insured unemployment since June 24, 2000.   The 4-week moving average was 2,051,250, a decrease of 6,250 and the lowest level for since July 1, 2000 when it was 2,036,500. 

On the housing front, pending home sales were up 1.5% to the 5th highest level in the last year, as sales rebounded from August’s dip.  The Pending Home Sales Index, based on signed real estate contracts for existing single-family homes, condos and co-ops, rose in September to 110.0 from August’s slightly revised 108.4.  Increases in the South and West outgained declines in the Northeast and Midwest.

Alphabet, Amazon and LinkedIn all report after the bell today. Those names could provide a significant catalyst for tech tomorrow if they deliver a surprise.